The State Aid Fund for Business was established by the decision of the Government of the Republic of Lithuania, with the initial value of the Fund being EUR 100 million. The state will invest in the State Aid Fund for Business through UAB Valstybės Investicinis Kapitalas (VIK), managing the Fund via UAB Valstybės Investicijų Valdymo Agentūra (VIVA). The structure of the Fund is a limited partnership. The total target value of the Fund (of EUR 1 billion) will be achieved with the involvement of private limited partners. Institutional investors will be selected by way of a public, transparent and non-discriminatory call, also inviting international financial institutions to invest. 

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Aims of the State Aid Fund for Business

  • to provide investments to large and medium-sized enterprises, the termination of the activities of which would trigger a chain reaction and have significant socio-economic consequences;
  • to preserve sectors of the economy important to the state so that they are best prepared for economic recovery;
  • to promote capital market in Lithuania;
  • to attract institutional investors.

Principles of operation of the State Aid Fund for Business 

Social responsibility

Support for activities of companies shall be provided in pursuit of the common well-being of Lithuania becoming the principal objective of economic activities.

Political independence

The structure of management of the Fund ensures proper representation of investors and separation of activities from the influence of political decisions, thus ensuring sustainable activities of the Fund in the long term and independent decision-making of its management and investment decision-making bodies.

Transparency

Given the fact that the Republic of Lithuania is the investor of the Fund and that all citizens of the Republic of Lithuania are interested in the Fund’s activities, the Fund adheres to the highest standards of transparency in its activities.

Good management practice

Fund management-related decisions shall be implemented in accordance with best market practices, implementing legitimate expectations and interests of investors and ensuring transparent and independent activities thereof.

Reasonableness of decisions

Each decision of the Fund to invest or to refuse to invest shall be reasoned and duly motivated, thus providing stakeholders with sufficient certainty about the Fund’s activities.


Other investors of the Fund

Currently, the state if the only investor of the Fund, but the aim is to attract up to EUR 500 million from institutional investors in the future.

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Last updated: 22 10 2020